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quarterly and annual imports ; flour reduced into wheat at the rate of three and a half cwts. per quarter :

1858-59.
1859-60.

1860-61.
qrs.
qrs.

qrs. First quarter,

1,142,000 916,000 2,670,000 Second quarter,

1,019,000 954,000 2,994,000 Third quarter,..

1,032,000

497,000 2,462,000 Fourth quarter,..

1,974,000 1,653,000 2,430,000 Yearly totals..........quarters, 6,167,000 4,020,000 10,556,000 The first month of the present season shows a falling off, not only in regard to the months immediately preceding it, but also with respect to the corresponding month of last year, and is below the monthly average of last season by 175,000 quarters. In regard to actual available supply, it is even more deficient, as compared with August, 1860, than shown from the shipments to France from England.

Subjoined are the values of the exports of British produce and manufactures for the month and eight months ending 31st August, for the present and two previous years, and of the values of the principal articles imported in the month and seven months ending 31st July, the importations being one month behind the exportations, as requiring much greater labor to compute : EXPORTS.

1859.
1860.

1861. Month of August,....

£12,117,275 .. £13,535,205 .. £12,337,441 Eight months ending 31st August,. 86,405,885 .. 88,077,892 .. 82,575,126

IMPORTS. Month of July,......

15,551,616 15,200,442 17,748,952 Seven months ending 31st July,...... 76,367,163 .. 90,569,648 .. 100,015,301

The decrease in the value of the exports is more than accounted for by the diminution of our shipments to the United States; at the same time it is worthy of remark, that the exports to India, in regard to cotton goods, with which those markets were supposed to be saturated, exhibit no falling off, but, on the contrary, an increase; the value for the month of August being £1,122,170, against £842,167 in August, 1860, and £1,116,769 in August, 1859. In cotton yarn it is otherwise, being respectively £119,728, £142,767 and £228,927.

Subjoined is the value of our exports to the United States for the month of August in the present and two previous years :

1859.
1860.

1861. Cotton manufactures,.

£217,577
£447,775

£38,564 Linen

122,432
228,119

42,279 Woollen

307,789
489,363

111,693 Silk

31,783
31,886

13,666 Metals,....

419,870
434,431

101,817 Earthenware,

63,693
79,318

16,514 Haberdashery and millinery, 112,089

138,720

33,659 Hardware and cutlery,..

99,678
141,463

71,679 Soda,

46,411
64,230

20,798 Spirits,

9,935
13,486

665 Coals,..

22,476
25,414

26,052 Salt,

8,218
9,904

5,809

.

Totals, .

£1,416,851

£2,094,309

£483,174

The falling off in our total exports is only £1,197,764, while to the United States alone, as compared with August, 1860, it is £1,611,135.

It appears that the shipments of cotton from Liverpool to the United States amounted, during the past month, to 3,703 bales, of which the whole were American, except 321 bales of East Indian. The principal portion was conveyed in steamers.

By the ship Asia, of New-York, a cargo of crust guano has lately been imported from the island of Sombrero, and landed in the West India docks. Sombrero is situate near the Dutch island of St. Martin, in the West Indies, and is the property of Messrs. Wood & Sons, of NewYork, who are said to hold it under the protection of the United States government. The discovery of the guano deposits on the island is of recent date. Hitherto the shipments have been chiefly to the southern ports of the States; but, as those are now blockaded, the supply may probably be directed towards England.

A prospectus has been issued of the General Tram Rail-Road Company, with a capital of £200,000, in £5 shares. The first object is to carry out a concession which has been granted by the Emperor of the French, for a horse rail-road in France, between Clermont and Riom, a distance of twelve miles.

It is curious to witness the changes that have taken place in the values of some of the principal articles largely imported from the United States. We subjoin the comparative prices in this market at the present time, compared with those ruling in September, 1860, from which it will be seen that the articles more immediately affected by the blockade have materially advanced in value :

PRICE8.

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DESCRIPTION OF PRODUCE.

1860.

1861. Tobacco, Virginia, Kentucky and Mary->

3d, to 10d.

6d. to 14d. land, ranging, per lb.,

s Average about, per lb.,.

7d.

104d. Rice, Carolina, per cwt.,.

188. to 26s.

26s. to 31s. Bark, Philadelphia, per cwt.,..

8s. 6d. to 9s.

11s. to 12s. Baltimore,

78, 6d, to 8s.

9s, 3d. Linseed cake, American, thin, per ton,... £9 15s. to £10. £10 12s. 6d, to £10 158. Rosin, common, per cwt.,. .

5s. 2d.

12s. 3d. to 12s. 6d. “ . medium to fine, per cwt.,.

6s. to 16s.

138. to 20s. Turpentine, American, rough, per cwt.,.. 7s. 6d. to 88.

nominal. spirits,

32s.

60s. Tar, American, per bbl.,..

178. 6d, to 188.

nominal. The first

cargo of new teas has arrived from China, in the FIERY Cross, Captain Dallas, from Foo-chow; she passed through the Downs for London 23d September. There is always considerable competition in getting the first cargo to market, and, in addition to the ordinary freight, a further sum is usually engaged to be paid to the successful ship, which prize the FIERY Cross carries off this season, in the shape of an extra 10s. per ton.

Of French commercial affairs it may be said, that while no crisis is imminent, yet the wants of the country will probably be very large. Speaking of the commercial treaty between England and France, which took effect on 1st October, the Paris correspondent of the Times says: “In spite of the increase in the importation of raw material, which shows increased production and the falling off of exportation, there is no trace of manufacturing distress. What can one do but conclude that France

has found consumers at home for her manufactures ? The first beneficial effect of the new commercial policy was, therefore, to make many articles accessible to people who were before deprived of them. As for the financial drain, it has absolutely nothing to do with the national industry and manufactures."

The Moniteur contains an imperial decree, dated the 1st of October, according to which the ports of Marseilles, Bordeaux, Nantes, Rouen, Havre, Dieppe, Boulogne, Calais and Dunkirk, and the custom-houses of Tourcoing, Roubaix, Lille, Valenciennes, Mulhouse and Lyons, are, dating from the 1st inst., open for the importation of cotton and woollen yarns of every description, either of English or Belgian manufacture. By the same decree, the following articles of English or Belgian origin or manufacture cannot be imported into France, either by land or sea, except through the custom-houses appointed : All goods paying a duty of twenty francs per one hundred kilogrammes; also, coaches, playing-cards, chicory, roasted or ground, cutlery, skin and leather work, articles made of horse or cow's hair, pure or mixed chemicals, ordinary soaps, drinking glasses and crystals, white and colored, window glass, colored glass, polished or engraved, watch and optical glasses, and all other glassware not mentioned in this category, sea-going vessels, hulls of sea-going vessels, river craft, alpaca, lama and Vienna wool, and camel's-hair yarn.

The French Foreign Office is engaged with several new commercial treaties, suggested by that which comes into operation this month between England and France. The Zollverein negotiants progress towards conclusions, contrary to the assertions of a Belgian journal.

A letter from Cognac, dated the 18th of September, says: The vintage throughout this district will be quite as bad, and even worse, than was sometimes since apprehended. In many vineyards there are no grapes at all. A few vines show a little fruit, but, on the whole, the result will be

very bad indeed. The quantity of wine that will be made this year in the Cognac district will not be sufficient for the requirements of the people inhabiting the neighborhood. No Cognac brandy can, therefore, be expected to be distilled this year, and the wants of the trade must be entirely supplied from the old stocks of 1860, 1859 and 1858. The vintage has commenced in the neighborhood of Lyons. The quality of the wine is excellent, and the grape ferments readily. The celebrated white wine of Condrieu, of this year, is already offered for sale in the wineshops of Lyons. It is calculated that the rain which fell last week will increase the wine crop by full 25 per

cent. The leading items of the past week are as follow:

September 26.—The prospectus of the Metropolitan and Provincial Bank (limited) published. Capital, £1,000,000. (England.)

Bank of France advanced rate of discount from 5 to 54 per cent.

September 27.—The Commercial Union Fire Assurance Company announce the commencement of business in London.

September 28.—Bills of Messrs. RAPHAEL, GARDINER & Co. protested.

October 1.—The prospectus of the Queensland Cotton Company (limited) published. Capital, £100,000. Advance of the rate of discount by the Bank of France to 6 per

cent. October 2.–The prospectus of the General Tram Rail-Road Company (limited) published." Capital, £20,000.

-Т НЕ

MERCHANTS' MAGAZINE

AND

COMMERCIAL REVIEW.

Established July, 1839.

EDITED BY

3. BMITII HOMANS, (SECRETABY OF THE CHAMBER OF COMMERCE OF THE STATI OF NEW-YORK,)

AND WILLIAM B. DANA, ATTORNEY AT LAW.

VOLUME XLV.

NOVEMBER, 1861.

NUMBER V.

CONTENTS OF No. V., VOL. XLV.

PAGR

ART.
I. OUR MERCANTILE MARINE.—The Tone of the Service Degenerating-Cause of

the Degeneracy-Evidence of the same-Fraudulent Shipwrecks--Opinions of Ham-
burg Underwriters-Comparison of per centage of Disasters in English Service with
our own-Certificates of Service and Competency issued in these Countries—A simi-
lar System necessary here—Advantages of this System to Shipmasters, Shipowners
and Underwriters-Suggestions about the Collection of Statistics of Disasters, and
Benefits to be derived therefrom-Recapitulation and Conclusion,.....

449 II. THE HIDES OF THE RIVER PLATA.-Wholesale Slaughter of Mares-OxenSalting-Refuse--Statistics,.....

458 III. THE OIL-SEEDS OF COMMERCE.-1. Linseed. 2. Rape Seed. 3. Ground Nut.

4. Cotton-Seed Oil. 5. Dodder Seeds, Sunflower Seeds, Cress Seed, Niger Seed, Ramtil, Radish Seed, Safflower Seed,....

460 IV. THE SEAL FISHERY OF LABRADOR AND SPITZBERGEN.-Statistics Sealing Vessels-Varieties of Seals Seal Blubber used for Machinery,....

462 V. THE COTTON CULTURE OF CHINA.-Yellow Cotton-Nanking Cottons-Chinese Cotton Picking-Spinning Wheels of the Chinese, ..

465 VI. THE MANCHESTER COTTON SUPPLY ASSOCIATION.-Annual Report for the

Year 1860-1861.-Prospective Supply-Brazil—Peru—Chili-Africa-Egypt-India - Indian Railways,....

470 VII. THE COMMERCE AND NAVY OF BELGIUM.-1. The Flemings in the Ninth

Century. 2. Maritime Law of the Eleventh Century. 3. Flax and Hemp Cultivation in the Twelfth Century. 4. Trade of England, Scotland and Ireland with the Flemings,......

477 VIII. THE COTTON QUESTION.-Remarks of Mr. BAZLEY before the British Association of August, 1861,.......

479 IX. THE BREADSTUFFS TRADE OF THE UNITED STATES.-Annual Report on

the supply and Export of Flour, Wheat, Corn, Corn-Meal-Extraordinary Foreign Demand for the year 1861,..

484

X. COTTON CROP OF THE UNITED STATES.-1. Statement and Total Amount for

the Year ending 31st August, 1861. 2. Production of each State in 1850 and in 1861. 8. Per Centage of Production in cach State. 4. Export from each Port. 5. Consumption in the United States, 1847-1861,.....

497 XI. HISTORY OF THE UNITED STATES TARIFF.---1. Tariff of March, 1861. 2.

Method of Levy for Protection. 3. Failure as a Revenue Measure. 4. Diminished Consumption. 5. Decline in Importations. 6. Monthly Customs, Port of New-York. 7. Congressional Discussions, 8. Outbreak of War. 9. Extra Session. 10. Free Articles Taxed. 11. Tea and Coffee. 12. Estimated Revenue. 18. Northern Consumption, 14. Yield of the Three Tariffs. 15. Bonded Goods. 16. Exports of the Country. 17. Return of Specie. 18. Grain Exports-Cotton Imports-Effect of Loan upon Customs---Probable Change,

502

JOURNAL OF AGRICULTURE. 1. The British Harvest. 2. The Importance of a Good Harvest. 3. Guano Discoveries. 4. Flax Culture,

487 JOURNAL OF MINING AND MANUFACTURES. 1. The new Patent Law of the United States. 2. Patent Laws of European Governments. 8. Quicksilver. 4. Cocoanut Oil. 6. India Rubber Varnish,..

489 BOARDS OF TRADE AND CHAMBERS OF COMMERCE. 1. New-York Chamber of Commerce, October, 1861—Letter from Professor LIEBER-New-York Produce Exchange,

509 JOURNAL OF NAUTICAL INTELLIGENCE. 1. The American Shipmasters' Association. 2. British Steam Vessels for China. 3. British

Steamers for Peru. 4. An Incident of the Sea. 5. The Lake Trade to Liverpool. 6. Surveys in Australasia. 7. The Sandwich Islands. S. Light-Houses in Scotland—Cape of Good Hope-South Pacific-Coast of Brazil-Bay of Biscay. 9. Iron-Plated Ships,....

517

COMMERCIAL REGULATIONS. 1. The Confiscation Act of August, 1861. 2. Results of Confiscation Acts. 8. Commercial

Treaty between France and Italy.' 4. Free Importations into France. 5. Treaty between England and France. 6. Treaiy with Turkey. 7. Treaty between Russia and China. 8. Decisions of the Secretary of the Treasury on Hollow Ware-Woollen Card Cloth-Printed Cotton Handkerchiefs,.

525

JOURNAL OF MARINE INSURANCE. List of Marine Losses in the months of April, May, June and July, 1861,.

630 RAIL-ROAD, CANAL AND TELEGRAPH STATISTICS. 1. The Telegraph from Moscow to New-York. 2. British Railway Statistics. 8. New Route

from Europe to India. 4. Important to Railway Companies. 5. Steam on Common Roads. 6. The Pacific Telegraph. 7. The Atlantic Cable,..

584

STATISTICS OF TRADE AND COMMERCE. 1. The Lake Trade. 2. Commerce of Buffalo. 8. The Cork Trade. 4. Trade of Turkey. 5.

Exports of Penang. 6. Trade and Navigation of France. 7. The Linen Trade. S. China Trade. 9. The Tobacco Trade. 10. Philadelphia Grain Market. 11. Price of Potatoes, 1854—1861. 12. Bangor Lumber Market,.

510

COMMERCIAL CHRONICLE AND REVIEW. Progress of Business– Imports-Exports-Domestic Produce-Dry Goods Trade-Custom

House Revenue-Larger Portion of Breadstuffs--Table of Exports-Grain at the WestGrain for Freights-Bank Loans-Rates of Exchange-Advance in Rail-Road Freights-Increase of Canal Tolls—Telegraph Communication-Imports and Stocks of Sugar and Coffee, 546

FOREIGN CORRESPONDENCE OF THE MERCHANTS' MAGAZINE. Rates of Discount of Bank of England and Bank of France-Revenue of the United Kingdom

Imports of Wheat and Flour into Great Britain-Exports-Shipments of Cotton—Guano Horse Rail-Road in France-Changes in value of principal articles Imported from the United States--New Teas-Commercial Treaty-Free Ports of France for the Importation of Cotton and Woollen Yarns—Cognac Vintage,

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